Jeff Bezos has dropped to 3rd place within the race for riches.
The Amazon founder is now the world’s third-richest person, after Indian business tycoon Gautam Adani leapfrogged Bezos in the most recent Bloomberg’s Billionaire Index.
Adani has amassed an estimated $146.8 billion fortune that only trails Elon Musk’s $263.9 billion, in line with Bloomberg News.
It’s the primary time an individual from Asia has ranked so highly on the Bloomberg’s list, which has long been dominated by white billionaires.
Bezos trails Adani by just $19 million. Shares of e-commerce goliath Amazon are down 26% this 12 months.
Meanwhile, shares of Adani Enterprises Ltd. have surged the past week, and a few of his group of firms climbed greater than 1,000% since 2020, in line with reports.
Adani’s rise to No. 2 coincides with a tech selloff that has chopped greater than $45 billion from Bezos’s fortune since January. Bezos — once the world’s richest person — also saw his net price significantly drop after his 2019 divorce from ex-wife MacKenzie Scott, who received 4% of Amazon.